(Reuters) -U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins pledged to pursue minimal regulation and fast-track President Donald Trump’s proposal to scrap quarterly earnings reports in an opinion piece for the Financial Times on Monday. “The government should provide the minimum effective dose of regulation needed to protect investors while allowing businesses to flourish,” […]
Business
US SEC Chair Atkins vows to fast-track scrapping quarterly corporate reports, FT says
Audio By Carbonatix
(Reuters) -U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins pledged to pursue minimal regulation and fast-track President Donald Trump’s proposal to scrap quarterly earnings reports in an opinion piece for the Financial Times on Monday.
“The government should provide the minimum effective dose of regulation needed to protect investors while allowing businesses to flourish,” Atkins wrote, adding that changes should not be driven by political trends.
At present, the SEC requires listed companies to release financial statements every 90 days.
Trump previously backed the proposed change in 2018 and renewed his call earlier this month.
Atkins did not lay out a timeline for the change, which would be a major shift for companies in the U.S.
Some investors have cautioned that a move away from quarterly reporting would result in diminished transparency and increased market volatility, which would in turn make U.S. stocks less attractive to investors.
(Reporting by Anusha Shah in Bengaluru; Editing by Christian Schmollinger and Thomas Derpinghaus)